Landstar System (NASDAQ:LSTR) Hits New 12-Month Low After Analyst Downgrade

Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week low on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $184.00 to $177.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Landstar System traded as low as $163.18 and last traded at $166.94, with a volume of 697415 shares trading hands. The stock had previously closed at $172.92.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price target on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. TD Cowen reduced their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, UBS Group upped their target price on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat, Landstar System has a consensus rating of “Hold” and an average price target of $171.27.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LSTR. Creative Planning boosted its holdings in shares of Landstar System by 18.2% during the 2nd quarter. Creative Planning now owns 4,285 shares of the transportation company’s stock valued at $790,000 after purchasing an additional 659 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Landstar System during the 2nd quarter valued at about $854,000. Sanctuary Advisors LLC bought a new position in shares of Landstar System during the 2nd quarter valued at about $946,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Landstar System during the 2nd quarter valued at about $131,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Landstar System by 119.0% during the 3rd quarter. SG Americas Securities LLC now owns 3,528 shares of the transportation company’s stock valued at $666,000 after purchasing an additional 1,917 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The stock’s fifty day moving average is $177.10 and its 200 day moving average is $182.02. The stock has a market cap of $5.82 billion, a P/E ratio of 29.83 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.37%. As a group, equities research analysts predict that Landstar System, Inc. will post 6.7 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.